CASH RESERVE RATIO (CRR) is a ratio which banks have to maintain with itself in the form of cash reserves or by way of current account with the Reserve Bank, computed as a certain percentage of its demand and time liabilities. The objective is to ensure the safety and liquidity of the deposits with the banks.
PIERCING THE CORPORATE VEIL is a legal concept through which a corporations shareholders, who generally are shielded from liability for the corporations activities, can be held responsible for certain actions.
PISO is a currency of the Philippines.
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